Patience + Humility + Study = Success
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #81,961
- May 18, 2008 6:39pm May 18, 2008 6:39pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
- #81,962
- May 18, 2008 6:39pm May 18, 2008 6:39pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
every damn bit of it 
Good one!
Funny you mention that, because I had a dream in which everyone else made millions simply by following the opposite of my trades. As I was making no money at this myself, I decided to charge for my "Just do the opposite to me" trades and ended up making a loss when the trades decided to go my way after my account was blown....Don't you just love forex?
- #81,963
- May 18, 2008 6:41pm May 18, 2008 6:41pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
don't we all have those great moments.I had a dream I was shorting and had a 100 pip S/L and that the price went up 101 pips and then dropped 10k pips.
- #81,964
- May 18, 2008 6:42pm May 18, 2008 6:42pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #81,966
- May 18, 2008 6:45pm May 18, 2008 6:45pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #81,967
- May 18, 2008 6:46pm May 18, 2008 6:46pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
I had a dream I was shorting and had a 100 pip S/L and that the price went up 101 pips and then dropped 10k pips.
In my other dream I placed numerous trades in a ranging market waiting for the breakout. When my account was blown by only using 50-100 pip SL's the range broke, not only that, it went in my original direction 3000 pips
- #81,968
- May 18, 2008 6:47pm May 18, 2008 6:47pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
I had a dream I was shorting and had a 100 pip S/L and that the price went up 101 pips and then dropped 10k pips.
- #81,969
- May 18, 2008 6:48pm May 18, 2008 6:48pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
i'm ok, i had lots of hours of sleep. i sold a couple of accounting software that i built today. it was good. so i actually had a good day. 
thanks for asking.
thanks for asking.
Exam was excellent bro, so glad to be done. Just taking a break till summer school and vacation. How are you?
- #81,970
- May 18, 2008 6:55pm May 18, 2008 6:55pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I trade currency futures along side GBPJPY crosses.
The benefits are:
1) tight spreads (0.4 pips on JPY futures)
2) real volume that i can apply to marketdelta so that I can see ' inside the chart and see where the buyers and sellers are on any particular candle on any time frame. Real volume( not brokers volume) as the currency futures are traded through the CME , a centralized system .
Today the JPY futures are half the volume they were this time last Sunday , thus meaning it is a waste of time to sit and wait for a day trade on the GBPJPY.
Interesting how the JPY futures are forming a very clear bull flag on the 60 min.If the JPY futures break out of the top of the flag (JPY getting stronger).... hold on for the ride GBPJPY bears.
The futures are inverse of the USDJPY ..1e 1/1.0400.
The benefits are:
1) tight spreads (0.4 pips on JPY futures)
2) real volume that i can apply to marketdelta so that I can see ' inside the chart and see where the buyers and sellers are on any particular candle on any time frame. Real volume( not brokers volume) as the currency futures are traded through the CME , a centralized system .
Today the JPY futures are half the volume they were this time last Sunday , thus meaning it is a waste of time to sit and wait for a day trade on the GBPJPY.
Interesting how the JPY futures are forming a very clear bull flag on the 60 min.If the JPY futures break out of the top of the flag (JPY getting stronger).... hold on for the ride GBPJPY bears.
The futures are inverse of the USDJPY ..1e 1/1.0400.
Blogging daily now at www.volume.zone
- #81,971
- May 18, 2008 6:59pm May 18, 2008 6:59pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #81,977
- May 18, 2008 7:49pm May 18, 2008 7:49pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #81,978
- May 18, 2008 7:59pm May 18, 2008 7:59pm
- Joined Apr 2007 | Status: Senior Principal Trader | 2,699 Posts
Clouds again i think you slightly misunderstand the nature of the JPY crosses; they dont follow each other as a rule and and do not provide leading indicators. GJ = UJ x GU and EJ = UJ x EU etc etc. As UJ movement is priced in simultaneously on each cross (by the nature of the currencies there is no discernable lag or there would be bet the house arbitrage), the only way you could POSSIBLY theorize that GJ follows EJ is that GU follows EU around like a puppy reacting the same but at a slower pace, to market pressure. This is obviously not the case. Even where they (GU and EU) are similar (ie with US dollar buying/selling) they move from this pressure at the same time AND to variable extents according to the strength of the counter currency.
Where GU and EU are moving in opposite directions (HINT FOR EG SEE THE LAST SIX MONTHS) they ARENT even going to end up mirroring each other in the mid and long term, let alone be leading indicators. They only correlate when E/U and G/U movement is dictated by US buying/selling. They WILL differentiate according to EU and GU demand- it is pointless and potentially dangerous to trade one (ie GJ) based on the other (ie EJ). They are different beasts based on different variables. Open up a daily, weekly or monthly chart and you will see this.
They appear similar when both are being driven by UJ- but you will see over time that this is not always the case and the other pair is equally likely to be in control.
Also you should know in terms of GJ, that UJ, because of its value, is twice as impactful as GU (ie one pip in UJ = 2 pips GJ and one pip GU = one pip GJ movement). However on EJ it is closer to 1.5 pips for UJ movement and 1 pip for EU movement. This further complicates any attempted general cross analysis as movement in the base pairs have differing effects on the respective crosses.
It is true that some movement on UJ crosses can be caused across the board on major buying and selling of one cross pair (and the corresponding specific buying/selling of UJ), but such instances require an extreme amount of volume, are not the cause of most movements and can be more easily seen by looking at UJ in isolation anyway. In the long term the value of any general cross analysis is always negated by the specific requirements and pressures of each correlating pair.
Good luck in your continued learning.
- #81,980
- May 18, 2008 8:17pm May 18, 2008 8:17pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Look like it just testing the 4H 200 ema